The finance committee voted to accept a proposed budget for presentation to the board and approved the Capital Resource Corporation budget after members discussed revenue assumptions, a projected lease at 17 Aviation Drive and possible land fees. The committee also asked staff to confirm accounting treatment for depreciation and to incorporate an estimated land‑fee expense into the agency budget.

The budget presented includes $300,000 in operating (fee) revenue, which the presenter described as conservative. “So I guess my point is on the 300,000, I think that's a very, very conservative number that we have in there. And I think we will, I think we'll exceed that,” said Joe, finance committee staff and budget presenter. The draft also assumes a projected lease at 17 Aviation Drive that would produce $25,000 a month in lease income, and it anticipates receipt of an ESD grant to fund strategic planning and feasibility work in 2026.

Committee members pressed for clarifications on noncash items and possible new expenses. Chad, finance committee member, asked whether the draft excluded arena impacts and whether the plan was cash‑flow positive, saying, “This is coming through cash flow positive.” The presenter confirmed arena impacts were fully removed and that depreciation/amortization is a noncash item. Committee members asked staff and the auditors (identified in the discussion by name variants in the transcript) to confirm the depreciation schedule and whether any asset would remain on the agency’s books after the arena disposition.

Discussion centered on a potential new recurring expense tied to 17 Aviation Drive. Mark, finance committee chair, warned the executive branch could impose land fees and estimated the cost at roughly $65,000 a year (about $5,000 a month) based on five acres at $13,000 per acre. He said the agency should budget for that possibility so the projected net position is not overstated. Staff agreed to add a $60,000 annual line item for land fees and to increase the fee revenue assumption to offset that expense.

Other notable budget items: a 3% salary increase for staff, end of the CVS bond repayment stream (the transcript indicates the CVS bond payments ended in 02/2025), projected pass‑through rental and financing income for MR Glass, a $55,000 grant payment to STAG for services, and $5,000 to the Capital Resource Corporation. The presenter reported the agency budget totals roughly “$7.22” (units not specified in the transcript).

Formal actions taken: the committee approved a motion to accept the proposed budget as presented so it could be submitted to the board. The motion was carried by voice vote; the transcript records “Aye” and “Motion carried” but does not provide a roll‑call. The Capital Resource Corporation budget was presented separately and approved by voice vote.

The committee directed staff to 1) confirm the accounting/depreciation treatment with the auditors, 2) add an estimated $60,000 per year in land fees related to 17 Aviation Drive and adjust fee revenue assumptions accordingly, and 3) present the adjusted budget at the board meeting. No ordinance, statute, or code citation was offered during the discussion.